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Gifting my house
I jointly own a house with my ex wife who is living in the house. She wants to sell the house and move nearer to her our children. The house is 50% mine and I want our children to have my 50% share in the house. Will I have to buy the new house in joint names? (myself and ex wife) How do I gift my 50% to the children now?…
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Self assessment self-employed/employed in same tax year
Hi My friend has to do his self assessment but he was only self employed for 4 months of that tax year, was then unemployed for 2 months and then finally got a job as an employee on PAYE. I think he has to add his self employed earnings to the figure on his P60 for the year as his total earnings for the tax year? Is that…
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Cash gift from employer?
My employer, a private limited company, has asked me to wave my contractual bonus. The Director will instead pay me the same sum as a personal gift. My employer has a logical and legitimate reason for this and their accountants have suggested they pay me the sum as a personal gift. From my part I will receive the entire…
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K Tax code
Hi Sorry if this has been posted before but just wanted some advice/check that I've got it right. My brother in law is a lorry driver. Gets no 'perks' from the job (no company car ect) but has been given a K tax code. Is this right or is he paying too much tax. I have tried to read through the info I can find and what I…
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Children at University
We have two children at university who receive student loans for their course fees as well as the minimum maintenace loans. This barely covers their accommodation costs and so my wife and I give each of them £3600 per year to live on. Can we claim any tax relief on this support we give them?
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Accounting for sales
Hi If I make a commission based sale, and it is paid 2 months after I made the sale - at what point would I put it into my accounts - at the time of sale or when the commission is paid. I was at a business course and I'm a little confused about the sales book, cash flow and profit and loss and where to account for it…
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Reclaiming overpaid PAYE tax
Hi guys, Hope you may be able to help with a question I have about overpaying tax in the 2009-10 tax year... My P60 states that my total pay in this employment, and total for the year was equal to £3915.00 and the tax deducted in this employment and total for the year was £459.00... Now from the start of the tax year in…
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gym membership
hello all, my work may be contributing or paying for my gym or golf club membership. any ieas on what sort of tax i wil have to pay the gold membership is about £100 a month and thinking of getting a family membership at virgin im gessing about £75 a month ?? any thoughts comments gladly received
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gym membership
hello all, my work may be contributing or paying for my gym or golf club membership. any ieas on what sort of tax i wil have to pay the gold membership is about £100 a month and thinking of getting a family membership at virgin im gessing about £75 a month ?? any thoughts comments gladly received
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Tax rebate
Hi guys! I am owed a rebate from the tax man, and just wondered if I will have to wait until the end of the tax year to receive this, or whether it may be paid out to me before this? All advice muchly appreciated, Thanks, Mischa
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Help working out GCT on share sale and spouse
Hi, Found this forum by searching on google, what have I been missing ! I'm after some help, I hope you can give me some pointers. A few years back I bought some shares in the company I work for @ £100 per share. We've been asked to sell these shares now @ around £400 ( beers all round). However, they've asked me if I want…
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Tax refund letter
Hello, Not sure if im posting in the right place as i am a newbie. Can anyone help i got a letter Friday stating that i had a tax refund they didnt say how much but said it was enclosed seperately however nothing was enclosed and no other letter has arrived. I have tried calling but spend forever on hold and seem to get…
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Sole Trader - Expenses Help??!!
Hi My husband is a self-employed air-con fitter - sole trader. He has worked on a succession of contracts for the same company all based at Gatwick for the whole of the last tax year. 1. My understanding is that because his business is effectively home-based he can claim mileage expenses from home to site - but is this…
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Tax rebate - finally got an answer!
Today I finally received my tax rebate notification to say that I overpaid tax by £1,250. They will be sending me a cheque in the post shortly. Last week I had 2 letters from the HMRC stating they are looking into my letter and that the answer is on its way to me so to have the reply today I was quite astonished as thought…
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Claiming Tax back
In October or so I submitted my online Self-assessment for the tax year 2008/09 and I had £700 on allowable expenses. As I was a bit lazy in sorting it out the 2009/10 tax year was over before this was added to my personal allowance and my tax code had another £700 added to it for 2010/11. Before I waste 10 minutes on hold…
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Advice wanted about tax returns for a tutor
Hello everyone, I have a question! I am considering doing some private tutoring for folks doing Standard Grades and Highers in English and Religious Studies, and I wondered if anyone else had experience of doing this? I'd like to get some advice about doing my tax returns, etc. as I will be self-employed (and I would be…
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VAT Query
Just a quick question - any suggestions would be gratefully received. I am expecting VAT to go up next week - now although I had thought this would happen I havent really thought through what we would do about it. We are booked up with work until October - some of the work is to businesses and so the VAT rise will not…
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Question regarding chasing up my tax return
Hi guys I sought advice on here regarding sending my P60 off and getting a tax refund which I had been told wa due to me. So, I was basically advised to send a cover letter and my p60 to the address of the office my employer uses (Young Street, Sheffield). However, I haven't yet heard anything, so I am wondering if anybody…
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council tax problem- partner not on voters role
hi there, i am self employed and have done really bad over the last two years. apparently i would have been elegible for not paying council tax or certainly severely reduced. i never claimed as i was hoping my business would pick up but unfortunately things have only got worse. now i want to try and claim the CT benefit…
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Online tax returns
Does anybody have a step by step guide somewhere to filing a self assessment tax return online? I'm guessing it's quite easy once I get into it but I can never find a place where I finally fill in an online form!